Which Technologies Will Make Your Products More Competitive?
As you look to stay relevant in the 2020s, which technologies will have the most impact on the competitiveness of your products? What are your competitors doing? What should you look for in design tools to make it easier to incorporate new technology into your products? What other capabilities should your company have to ensure it stays competitive through the 2020s? Tech-Clarity research shows that in the next decade companies will frequently rely on new technology to increase innovation. To support new technology, an overwhelming 99% of companies agree that software tools will help, but which ones will have the most impact?
This research study, based on a survey of over 200 manufacturers, examines what companies are planning for the 2020s to stay competitive. It identifies the top technologies that Top Performing companies plan to incorporate into their products and development processes. It also looks at how to get the most out of existing engineering teams and manage the resulting complexity.
How Will You Stay Competitive in the 2020s?
The Pace of Innovation Has Accelerated
As companies plan for the 2020s, there is even more to consider than before. Many new technologies have created opportunities for innovation, making it an exciting time for product developers. In fact, Tech-Clarity research finds that 83% of Top Performing companies rate new technology as very or extremely important to their innovation goals. As such, companies will need the right design processes and tools to help them take advantage of the latest technology.
Those who ignore the latest trends are at risk of not surviving. Just over half of the companies that were on the Fortune 500 in 2000 have already disappeared,1 and the failure rate will only accelerate. A study conducted by Innosight2 projects that nearly 50% of the current S&P 500 will be replaced over the next decade. Decreasing corporate lifespans can be attributed in part to disruption from technology, failure to invest in growth areas, and slow responses to disruptive competitors.
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